A recent willingness-to-pay survey asked respondents to value the waters of Salem Sound. The respondents were asked what they would be willing to pay to help protect the water. They were given the following choices: $10, $40, $100, $300, $650, $1,000, $3,000, $10,000 or fill in a value for some other amount. What type of behavioral bias will be captured by this question the way it is written?

Question

Quizplus · Accepted Answer

The Answer of A recent willingness-to-pay survey asked respondents to value the waters of Salem Sound. The respondents were asked what they would be willing to pay to help protect the water. They were given the following choices: $10, $40, $100, $300, $650, $1,000, $3,000, $10,000 or fill in a value for some other amount. What type of behavioral bias will be captured by this question the way it is written?

A Recent Willingness-To-Pay Survey Asked Respondents to Value the Waters